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03 May 2024

Shree Marutinandan Tubes Limited IPO

Shree Marutinandan Tubes Limited has earned a commendable reputation for reliability and quality due to its adherence to uncompromising standards of quality. The Objective is to delight customers at reasonable prices. Keeping in mind the profile of the end users particularly house holders and farmers, the company has taken onus of ensuring quality better then the requirement. Shree Marutinandan Tubes Limited has earned a commendable reputation for reliability and quality due to its adherence to uncompromising standards of quality.

The Objective is to delight customers at reasonable prices. Shree Marutinandan Tubes IPO is a fixed price issue of Rs 14.30 crores. The issue is entirely a fresh issue of 10 lakh shares. Shree Marutinandan Tubes IPO price is ₹143 per share. The minimum lot size for an application is 1000 Shares. Swastika Investmart Ltd is the book running lead manager of the Shree Marutinandan Tubes IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Shree Marutinandan Tubes IPO is Swastika Investmart.

Shree Marutinandan Tubes IPO Overview

Detail	Description
IPO Date	January 12, 2024 to January 16, 2024
Listing Date	January 19, 2024
Face Value	₹10 per share
Price	₹143 per share
Lot Size	1000 Shares
Total Issue Size	1,000,000 shares (aggregating up to ₹14.30 Cr)
Fresh Issue	1,000,000 shares (aggregating up to ₹14.30 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	BSE SME
Share holding pre issue	2,460,000
Share holding post issue	3,460,000
Market Maker portion	50,000 shares

Shree Marutinandan Tubes IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Friday, January 12, 2024
IPO Close Date	Tuesday, January 16, 2024
Basis of Allotment	Wednesday, January 17, 2024
Initiation of Refunds	Thursday, January 18, 2024
Credit of Shares to Demat	Thursday, January 18, 2024
Listing Date	Friday, January 19, 2024
Cut-off time for UPI mandate confirmation	5 PM on January 16, 2024

Shree Marutinandan Tubes IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	1000	₹143,000
Retail (Max)	1	1000	₹143,000
HNI (Min)	2	2,000	₹286,000

Shree Marutinandan Tubes IPO Reservation

Investor Category	Shares Offered
Anchor Investor Shares Offered	-
Market Maker Shares Offered	50,000 (5.00%)
Other Shares Offered	475,000 (47.50%)
Retail Shares Offered	475,000 (47.50%)
Total Shares Offered	1,000,000 (100%)

Shree Marutinandan Tubes IPO Promoter Holding

Share Holding Pre Issue	82.00%
Share Holding Post Issue	58.30%

Company & Financials

Incorporated in 2013, Shree Marutinandan Tubes Limited deals in Galvanized Tubes, Electrical Resistance Welded Mild Steel Tubes (ERW MS) in various specifications and sizes ranging from 15NB to 1000 NB, and Black Tubes and Solar Structural Tubes for sectors like Agriculture, Oil, Solar Energy, Healthcare, Housing, Irrigation, Engineering etc. It has independent sales and distribution networks for products. A substantial majority of steel pipes are sold to wholesalers & Distributors in the domestic markets. It procures Steel Pipes from the best manufacturers in steel pipes at domestic level. The company has a procurement policy and generally purchases in large volumes in order to stock and facilitate on time delivery of products to end customers. The Company is well-established and has made a significant mark in the trading of steel tubes and pipes. However, from FY 2023, it has taken a strategic step of forward integration to expand its business horizons and diversify offerings. It accords contract manufacturing of agricultural equipment to its group company Shree Kamdhenu Machinery Private Limited. This move enables it to provide a broader range of products to clients, catering to the growing demand for agricultural machinery and equipment in the market.

Shree Marutinandan Tubes Limited Financial Information

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	2,234.29	1,617.60	1,284.83	1,301.03
Revenue	4,284.64	4,722.58	4,718.49	3,597.28
Profit After Tax	141.99	201.76	6.01	13.30
Net Worth	409.70	267.74	65.98	59.98
Reserves and Surplus	163.73	247.24	45.48	39.48
Total Borrowing	607.28	716.90	688.89	795.31
Amount in ₹ Lakhs

Key Performance Indicator

KPI	Values
ROE	120.91%
ROCE	78.52%
Debt/Equity	2.68
RoNW	75.36%
P/BV	1.09

	Pre IPO	Post IPO
EPS (Rs)	8.2	8.21
P/E (x)	17.44	17.42

Objectives of Shree Marutinandan Tubes IPO

The Issue Proceeds from the Fresh Issue will be utilized towards the following objectives:

1. To Meet Incremental Working Capital Requirements.
2. General Corporate Purpose.
3. To meet Public Issue Expenses.

Shree Marutinandan Tubes IPO Review

The company posted fluctuating bottom lines for the last three fiscals with static top lines for the last two fiscals. The sudden boost in its bottom lines for the last 18 months’ periods is not only raising eyebrows, but also concern over the sustainability going forward. H1-FY24 performance appears to be the window dressing and the issue appears fully priced based on this performance. Peers' comparison is nothing but an eyewash. The tiny paid-up equity capital post-IPO indicates longer gestation for migration to the main board.

FAQs for Shree Marutinandan Tubes IPO

What is the listing date of Shree Marutinandan Tubes SME IPO?

Shree Marutinandan Tubes SME IPO is going to be list on 19-01-2024.
When Shree Marutinandan Tubes SME IPO will be allocated?

Shree Marutinandan Tubes SME IPO Allotment Date is 17-01-2024.
What is the Shree Marutinandan Tubes offer size?

Shree Marutinandan Tubes offer size is INR 14.30 crores.
What is the Shree Marutinandan Tubes offer price band?

Shree Marutinandan Tubes public offer price is INR 143 per share.
What is the lot size of the Shree Marutinandan Tubes IPO?

Shree Marutinandan Tubes offer lot size is 1,000 shares.